(b) find the value of a and the value of b, showing each step in your working.

Core 2 Mathematics Edexcel January 2013 Question 3

3. A company predicts a yearly profit of £120 000 in the year 2013. The company predicts that the yearly profit will rise each year by 5%. The predicted yearly profit forms a geometric sequence with common ratio 1.05

(a) Show that the predicted profit in the year 2016 is £138 915

(b) Find the first year in which the yearly predicted profit exceeds £200 000

(c) Find the total predicted profit for the years 2013 to 2023 inclusive, giving your answer to the nearest pound.

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